In the previous article, I gave some great tips on how to prevent and prepare for a robbery. Like many things, it’s impossible to provide a solution that is all encompassing. After I penned that article I couldn’t help but think that there was more that I could share; more that I should share. I draw on over a decade’s time spent in the LP field and this is one of those topics that I just can never stress enough to my store managers. So, what else can you do to limit a robbery and/or cash loss?
When do you (or do you) conduct a cash drop? I know, some of you may be scratching your head after reading that. What’s a cash drop? Most stores have a safe where money from the day is stored prior to it being picked up by the armored carrier/dropped in the night deposit at the bank. When a cashier has so much money in the till, some cash is taken out, and then stored securely in the safe. Think about it, would you want any cashier to have several thousands of dollars in cash in their till? It’s December and Christmas is right around the corner. A few grand in cash in one till is not out of the realm of possibility.
If your store, or company does have a drop policy, then make sure your cashier leadership is following it. For the company I work for, we set the threshold at $500. Our cashiers start with a bank of $200. Once they have $500 above their original bank, they are required to get a supervisor to drop the additional funds. You should also monitor this throughout the week and coach those cashiers that are failing to meet the expectation. If by some chance, you don’t have this practice, I suggest implementing this yesterday.
Not only does this prevent a criminal from robbing a cashier, you also prevent yourself from being exposed to a quick-change artist. You may know them by a different name, but this guys and girls can quickly scam a cashier out of hundreds of dollars. The basic scam has them pay a small ticket item with a large bill ($100 mostly). After the cashier gives change and before the drawer is closed, they begin confusing the cashier by asking for different change. A quick palm and some sleight of hand later, you’re out a few hundred bucks.
Again, training and policies can help you to avoid this. First, as mentioned above, make sure to keep the amount of cash in the till at a minimum. Second, train your cashiers to immediately close the till once change is given. I see cashiers let their tills linger open far too long quite often. As soon as the change is removed and before they tear the receipt off the spool, that drawer needs to be closed. The criminal needs the drawer to remain open to steal your money. You can easily beat them at their own game. Second, forbid your cashiers from even giving change. That’s how it is at our stores. If a customer needs change, we’ll be more than happy to oblige, but they must walk to the service desk where a supervisor assists them.
Cash drops are an important tool to fight against a robbery attempt. They take away that added liability of excess cash in the drawer and help protect against quick change scams. Remember, they most important thing you can do to prepare for a robbery is to prepare for it, every day. Prepare by training your managers to open and close as a team. Prepare by teaching your staff to comply with a robber’s demand. Prepare by dropping excess funds in your safe. Prepare by training your cashiers to do something as simple as closing their drawer quickly. By taking a few simple steps, you can shrink the size of the target on your store.
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